Some HN commenters never cease to amaze with their negativity...
replies(7):
- He used Tesla stock to secure loans he used to purchase his stake in Solar City, the decision to purchase Solar City is at least in part driven by the fact that Elon Musk IS Tesla, without him at the helm it would be a problem and if he got margin called it would affect Tesla since he would lose a significant amount of his shares. There is no Tesla boardmember/major shareholder that doesn't have a conflict of interest for this issue.
- His companies buy each other's bonds, they're basically just moving money around and building a larger house of cards - if one company goes down at this point I really don't see how it wouldn't have significant reprecussions for the others. This is especially problematic when it comes to Space X which is privately owned and its deep connection to his public companies.
- It seems that if I took a big pile of money in my yard and lit it on fire, Elon would probably want to compete there (and do it better than me). All of his companies are very capital intensive and he is very leveraged at this point and has a lot of people tied to his fate - him not being focused on any one business makes this a bigger problem.
And here's my biggest Elon problem:
- He is a walking PR campaign. Why do we barely know any of the higher level engineers at Space X or Tesla? He is splitting his time between multiple companies, I find it impossible to believe he is involved in every engineering breakthrough at all of these companies and yet I have honestly never once heard him give credit to any of his management or engineering team.
That last one is the worst for me. I don't think he's a great person and it's annoying seeing everyone fawning over him like he's Elon Kardashian for tech people. The fact an almost universal complaint at his companies is that people are undercompensated and overworked further reinforces my personal opinion he doesn't value the work of other people.